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College and University Discussion
Reply to "Taking on Debt for Law School"
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[quote=Anonymous]Does your kid have undergraduate debt? That is an important factor. I took about $55,000 out in loans for law school. I got some scholarships and my parents paid my living expenses. I had no undergraduate loans. I took a job with the federal government and had about half my loans paid by my agency and paid the other half on within 6/7 years. Overall the loans have not made a big impact on my life. Part of that also is that my DH (who I met in law school and married a few years after I graduated) had an even smaller amount of loans. Given our combined income our total loans were quite manageable. I got lucky in that regard. I have friends that graduated law school with more than $100,000 in total loans and their life has been harder. It either forced them into higher paying jobs they didn't like or significantly impacted their lifestyle (think not being able to afford a home or being forced to buy is the far out suburbs and having a miserable commute). I would ask your kid to think about if they really want to be a lawyer or if they're just falling back on it. If its what they really want to do then go in with your eyes open and make smart decision about what school you attend and what jobs you take. People who go to law school because they don't know what else to do suffer the most. [/quote]
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